PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) has asked the federal government and State Bank of Pakistan to demonetise the Rs5,000 currency note to combat corruption and boost national economy.

The demand was made by SCCI president Fuad Ishaq during an awareness session titled ‘Security features of currency note’. The session was jointly arranged by SCCI and State Bank of Pakistan here on Wednesday.

Mr Ishaq claimed that the Rs5,000 currency note was harmful for country and its nullification would discourage blackmailing and inflation. It would help to combat corruption as well, he added.

He asked SBP and commercial banks to facilitate traders as their role was important in the economic development of the country.

He expressed reservation over non-provision of correct information about circulation of Rs5,000 currency note in the market and in the banks. He said that SBP must provide information to traders about circulation of Rs5,000 currency note in the market.

Mr Ishaq said that Senator Mohsin Aziz presented a resolution in Senate, demanding nullification of Rs5,000 currency note. He added that the resolution was appreciated by business community.

In the better interest of the country and combating corruption, he said, SBP should immediately demonetise Rs5,000 currency note.

Earlier, the assistant chief manager of SBP, Mohammad Jamal, and the senior officer treasury of SBP, Touseeq Ahmad, through a multimedia presentation briefed the participants of the session regarding security features of various currency notes.

After holding sessions with commercial banks, Mr Jamal said, SBP started interaction with business community, educational institutions and other departments to create awareness among people about security features of currency notes and save them from financial losses.

Published in Dawn, February 22nd, 2024

Opinion

Editorial

Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...
Islamabad protest
Updated 20 Nov, 2024

Islamabad protest

As Nov 24 draws nearer, both the PTI and the Islamabad administration must remain wary and keep within the limits of reason and the law.
PIA uncertainty
20 Nov, 2024

PIA uncertainty

THE failed attempt to privatise the national flag carrier late last month has led to a fierce debate around the...
T20 disappointment
20 Nov, 2024

T20 disappointment

AFTER experiencing the historic high of the One-day International series triumph against Australia, Pakistan came...